In brief: Direct Line takes a soaking from claims

Direct Line today revealed that wet winter weather claims cost it £60 million during the first quarter of the year.

The company, which was spun out of Royal Bank of Scotland in 2012, also said that the cost of buying a motor insurance policy had fallen by 4% due to competition across the market. Boss Paul Geddes added: “The UK motor and home markets are highly competitive.”

Carlyle top of the table with $30bn

Carlyle is now the world’s biggest private equity firm after raising a $30.5 billion (£18.1 billion) war chest over the past five years, according to figures from Private Equity International that rank the top 300 buyout firms. Carlyle, which is the owner of a host of companies including RAC, minicab hire firm Addison Lee and pushchair maker Britax, overtook rival TPG after raising a stunning $22 billion in 2013.

Rentokil traps an increase in profits

More vermin creeping into the UK’s homes and offices saw the Queen’s rat-catcher Rentokil Initial enjoy a 36% rise in inquiries in this country in the first three months of the year. Bird work — including pigeon-beating chili paste spread on the window ledges of office buildings — grew at 15%. Overall, the pest firm’s pre-tax profit in the three months rose 6% to £19.3 million, although it was held back by the strengthening pound.